BlackSky Technology Inc. Goodwill & Intangibles Disclosure
Gross Carrying Amount | Accumulated Impairment Losses | Net Carrying Value of Goodwill | |||||||||||||||
(in thousands) | |||||||||||||||||
December 31, 2025 | |||||||||||||||||
Balance as of January 1, 2025 | $ | 10,260 | $ | — | $ | 10,260 | |||||||||||
Fair value adjustment related to acquisition | 19 | — | 19 | ||||||||||||||
Balance as of December 31, 2025 | $ | 10,279 | $ | — | $ | 10,279 | |||||||||||
December 31, 2024 | |||||||||||||||||
Balance as of January 1, 2024 | $ | 9,393 | $ | — | $ | 9,393 | |||||||||||
Acquisition | 867 | — | 867 | ||||||||||||||
Balance as of December 31, 2024 | $ | 10,260 | $ | — | $ | 10,260 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||
(in thousands) | |||||||||||||||||
December 31, 2025 | |||||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||
Trade names and trademarks | $ | 1,200 | $ | (512) | $ | 688 | |||||||||||
Customer relationships | 5,614 | (5,380) | 234 | ||||||||||||||
Total finite-lived intangible assets: | 6,814 | (5,892) | 922 | ||||||||||||||
Indefinite-lived intangible assets: | |||||||||||||||||
In-process research and development | 3,500 | — | 3,500 | ||||||||||||||
Total intangible assets at December 31, 2025 | $ | 10,314 | $ | (5,892) | $ | 4,422 | |||||||||||
December 31, 2024 | |||||||||||||||||
Finite-lived intangible assets: | |||||||||||||||||
Trade names and trademarks | $ | 1,200 | $ | (49) | $ | 1,151 | |||||||||||
Customer relationships | 5,614 | (4,819) | 795 | ||||||||||||||
Total finite-lived intangible assets: | 6,814 | (4,868) | 1,946 | ||||||||||||||
Indefinite-lived intangible assets: | |||||||||||||||||
In-process research and development | 3,500 | — | 3,500 | ||||||||||||||
Total intangible assets at December 31, 2024 | $ | 10,314 | $ | (4,868) | $ | 5,446 | |||||||||||
For the years ending December 31: | (in thousands) | ||||
2026 | $ | 922 | |||
2027 | — | ||||
2028 | — | ||||
2029 | — | ||||
2030 | — | ||||
Total | $ | 922 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 17, 2026 | Showing above |
| 2024 | Mar 20, 2025 | |
| 2023 | Mar 20, 2024 | |
| 2022 | Mar 23, 2023 | |
| 2021 | Mar 31, 2022 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.